Phanes Group

About Phanes Group

Phanes Group operates as an integrated international solar energy developer and investment manager, established in 2012 with its headquarters in Dubai, UAE. The company's business model is centered on the end-to-end development of solar power projects, from initial financing and development to construction, and subsequent operations and maintenance. Phanes Group primarily serves emerging markets, with a strategic focus on Africa, the Middle East, Central Asia, and the Commonwealth of Independent States (CIS).

The firm was founded by Martin Haupts, who serves as the Chief Executive Officer, and Andrea Haupts, the Chief Operating Officer. Martin Haupts brought significant experience in capital markets and renewable project development to the company, having previously held roles at Credit Suisse and as Head of Asset Management at Gulf Merchant Bank. His leadership has been central to the company's strategy of entering and developing projects in challenging yet high-potential markets.

Phanes Group structures its operations to manage the entire lifecycle of solar assets, providing a holistic approach for its equity partners. This involves identifying viable projects, securing funding, and managing construction through its dedicated asset construction division, Oryx Solar System Solutions LLC, which also handles operations and maintenance services. The company engages in both large, utility-scale ground-mounted projects and more complex distributed rooftop solar installations. Notable projects include the largest distributed solar project in the Middle East (DP World Solar Power Programme), Phase I of the largest solar project in the Caribbean (Monte Plata), and a 200 MWac plant in Uzbekistan.

A key corporate initiative is the Phanes Group Solar Incubator, a program designed to support and mentor solar entrepreneurs in sub-Saharan Africa by providing them with the commercial and technical expertise needed to bring their projects to financial close. This reflects the company's commitment to fostering sustainable development and local talent on the continent. The group's revenue is generated through the development and management of its portfolio of solar assets and by supporting long-term equity partners in building their own asset portfolios.